For me its a real mixed bag - mainly UK firsts but if something comes along I fancy and have the money! then I try and buy it. I do like some of his older pieces Beowulf and his piece in Essays to Charles Williams is a good read as well.

The interviews sound good and maybe I need to take a look at some of these as well.

Trotters advise is good and I would be very very careful about buying with so many fakes around. I am afraid to buy Tolkiens signature is a costly business and I dont know of any economical ways around it.

Supply is low , Demand high and thus this will drive prices up.

If you see one cheap (ie certain ebay sellers) then it is fake for sure. Stick with the books if i were you.